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Aumann AG

Quarterly Report Nov 6, 2017

40_10-q_2017-11-06_23d8f6c6-151a-48f2-b967-d6ddc023ba21.pdf

Quarterly Report

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Quarterly Financial Report 30 September 2017

Aumann AG, Beelen

Welcome Note from the Managing Board

Dear fellow shareholders,

After a highly successful first half of the year, the third quarter of 2017 fell well short of our expectations. This was mainly a result of capacity bottlenecks, which led to delays in the completion of our orders. Today, we are confident that we have taken the right measures to continue on our sustainable growth path. The successful acquisition of the automation specialist USK on 18 October 2017 opens up technological expertise of more than 300 additional employees and valuable long-term customer relationships that together improve our position for further growth in the E-mobility market.

The trend towards E-mobility in the automotive industry has continued to gain momentum in recent months, which has also been reflected very positively in the volume of inquiries for corresponding production lines. Today we are talking to our customers about not just more orders, but also significantly larger potential orders compared to half a year ago. Together with our customers, we are working to apply our highly automated manufacturing technologies to the respective customer product to enable its mass production. However, this joint pre-sales development requires engineering capacities that are consequently missing in other areas of the company.

Owing to capacity bottlenecks in the processing of existing orders, we were unable to achieve the progress in the respective percentage of completion that we had originally planned. This challenge became especially apparent in the second half of the third quarter. Our revenue, which is dependent on the percentage of completion, was 24.0% higher year-on-year in the first nine months at €140.3 million, but failed to meet our high expectations. EBIT grew by 26.0% to €15.1 million in the first nine months, but also missed its target. In view of the unexpectedly weak quarter, we adjusted our forecast and are now projecting EBIT of €20 million for the full year.

Our third quarter was additionally characterized by the acquisition process of automation specialist USK that we have successfully completed on October 18. In USK we acquired a company that we have known for many years, and of whose technological capabilities we are just as convinced as the renowned automotive customers that have trusted in USK for decades. The almost overnight increase in our capacity by more than 300 highly qualified employees and additional production areas of more than 10,000 m², means a dramatic improvement of our market position. With an annualised revenue of more than €260 million, we feel excellently positioned for future growth in E-mobility.

We would like to thank you for your trust and look forward to shaping the future of E-mobility together with you.

Chief Executive Officer Chief Executive Officer Chief Financial Officer

Rolf Beckhoff Ludger Martinschledde Sebastian Roll

Aumann in figures

Nine months 2017 2016 Δ 2017 /
(unaudited) 2016
IFRS IFRS
€ k € k %
Order backlog 127,158 129,218 -1.6
Order intake 135,296 145,519 -7.0
Revenue 140,329 113,132 24.0
thereof E-mobility 40,309 27,884 44.6
Operating performance 141,068 113,563 24.2
Total performance 143,958 114,220 26.0
Cost of materials -88,353 -67,268 31.3
Staff costs -32,902 -28,509 15.4
EBITDA 16,321 13,078 24.8
EBITDA margin 11.6% 11.6%
EBIT 15,072 11,921 26.4
EBIT margin 10.7% 10.5%
EBT 14,616 11,728 24.6
EBT margin 10.4% 10.4%
Consolidated net profit 10,223 7,460 37.0
Number of shares 14,000
eps in €* 0.73
Figures from the statement 30 Sep 31 Dec
of financial position € k € k %
Non-current assets 38,990 26,715 45.9
Current assets 157,039 105,299 49.1
there of cash and equivalents** 65,879 45,846 43.7
Issued capital (share capital) 14,000 12,500 12.0
Other equity 85,480 28,937 195.4
Total equity 99,480 41,437 140.1
Equity ratio 50.7% 31.4%
Non-current liabilities 44,493 37,694 18.0
Current liabilities 52,056 52,883 -1.6
Total assets 196,029 132,014 48.5
Net debt (-) or
net cash (+)** 42,568 26,463 60.9
Employees (reference day 30 Sep ) 640 542 18.1

* Based on the number of shares as at 30 September 2017.

** This figure includes securities.

Contents

Welcome Note from the Managing Board 2
Aumann in figures 3
Contents 4
Interim Group management report 5
Business and economic conditions 5
Results of operations, financial position and net assets 5
Segment performance 6
Employees 6
Report on risks and opportunities 7
Report on expected developments 7
IFRS consolidated interim financial statements 2017 8
Notes to the interim consolidated financial statements 14
Accounting 14
Accounting policies 14
Segment reporting 14
Changes in contingent liabilities 15
Related party transactions 15
Events after the end of the reporting period 15
Review 15
Responsibility statement 15
Financial calendar 16
Conferences 16
Contact 16
Legal notice 16

Interim Group management report

Aumann is a world-leading manufacturer of innovative speciality machinery and automated production lines with a focus on E-mobility. The company combines unique winding technology for the highly efficient production of electric motors with decades of automation experience, particularly in the automotive industry. Leading companies around the world rely on Aumann solutions for the series production of purely electric and hybrid vehicle drives and for production automation.

Business and economic conditions

The global economy remains on a growth path, which is also benefiting the markets in which Aumann operates. Boosted by the ECB's sustained expansionary monetary policy, the euro area economies again enjoyed substantial growth in the first nine months of 2017. Growth in the euro area slowed slightly in the third quarter compared to the second quarter at 0.6% according to initial estimates, but is still 2.5% ahead of the third quarter of the previous year. The US, while slightly less strong in the third quarter than in the second at 0.7%, still achieved significant growth. Third-quarter growth in China was 6.8% year-on-year according to initial estimates.

In view of the positive development in the automotive industry, the German Association of the Automotive Industry (VDA) recently raised its forecast for sales on the German market to 3.5 million vehicles, which would correspond to growth of 4% compared to the previous year. The strong growth in the number of newly registered hybrid and electric vehicles is particularly relevant for Aumann. In Germany, the number of newly registered hybrid and electric vehicles has more than doubled in the first nine months compared to the same period in the previous year.

The mechanical engineering industry is forecasting further revenue growth for 2017. The German Mechanical Engineering Industry Association (VDMA) is anticipating the strongest growth in China (6%) and Japan (4%), but with the US and Germany also each achieving increases of 3%. For the robotics and automation segment, which is particularly relevant for Aumann, VDMA has recently raised its growth forecast for Germany from 7% to 11%.

Results of operations, financial position and net assets

After a highly successful first half of the year and in spite of a third quarter that fell short of expectations, Aumann's results of operations, financial position and net assets are positive. The consolidated revenue of the Aumann Group increased by 24.0% year-on-year to €140.3 million in the first nine months of 2017 (previous year: €113.1 million).

The ratio of cost of materials to total operating performance rose from 59.2% in the first nine months of the previous year to 62.6%. The staff costs ratio fell from 25.1% in the previous year to 23.3% in the same period. There are essentially two reasons for the changes in these ratios: Firstly, we have used more temporary workers in recent months to support the growth of our company with employees. As the costs of temporary workers are shown in our cost of materials, these were up relative to operating performance, while staff costs were down relative to operating performance. Secondly, on account of the high capacity utilisation, we have increasingly purchased services from suppliers in recent months that we have performed ourselves in the past.

Earnings before interest, taxes, depreciation and amortisation (EBITDA) increased by 24.8% to €16.3 million in the first nine months (previous year: €13.1 million). After depreciation and amortisation of €1.2 million, the Aumann Group's earnings before interest and taxes (EBIT) amounted to €15.1 million (previous year: €11.9 million). Adjusted for net finance costs of minus €0.5 million, earnings before taxes (EBT) amounted to €14.6 million (previous year: €11.7 million). Consolidated net profit was €10.2 million (previous year: €7.5 million) or €0.73 per share (based on an average of 14,000,000 shares outstanding) in the first nine months.

Even though our growth has been highly dynamic over the first nine months, the third quarter itself was less positive than expected in several respects. High capacity requirements for orders in the offer stage led to bottlenecks in the processing of existing orders. These capacity bottlenecks had a negative impact on both revenue and profitability for the quarter. As a result, our revenue grew by 4.0% compared to the third quarter of the previous year to €42.4 million. EBIT amounted to €2.8 million in the third quarter. Consolidated net profit for the quarter was €1.7 million (previous year: €2.4 million), putting earnings per share for the quarter at €0.12.

Cumulative incoming orders amounted to €135.3 million as at the end of the third quarter. In the third quarter, our customers were reserved in awarding large orders in relevant areas, hence incoming orders were relatively modest in the third quarter at €27.9 million. However, given order volumes that often rise

to significant double-digit million figures, a quarterly analysis of incoming orders is of only limited relevance. The unusually high volume of potential orders that we are currently discussing with customers is a positive factor. The order backlog amounted to €127.2 million as at the end of the quarter.

At the end of the third quarter, the company's consolidated statement of financial position and equity situation are still largely defined by the IPO on 24 March 2017 and the associated capital increase. A precise description of the respective effects on the statement of financial position can be found in the notes to the interim consolidated financial statements as at 31 March 2017. Consolidated equity amounted to €99.5 million as at 30 September 2017 (31 December 2016: €41.4 million). Based on total consolidated assets of €196.0 million, the equity ratio was 50.7% after 31.4% as at 31 December 2016.

In light of the growth achieved and multiple overlapping orders, working capital has risen by €33.1 million since 31 December 2016, and is therefore slightly reduced compared to the level as at the end of the third quarter.

Financial liabilities amounted to €23.3 million as at 30 September 2017 (31 December 2016: €19.4 million) and cash and cash equivalents, including securities, to €65.9 million (31 December 2016: €45.8 million). Accordingly, net cash from the above liabilities and cash items amounted to €42.6 million compared to €26.5 million as at 31 December 2016. Aumann's net cash position has therefore improved from €39.2 million on 30 June 2017.

Segment performance

Owing to their different market prospects, Aumann differentiates between the E-mobility and Classic segments, which are described in more detail below.

In the E-mobility segment, Aumann primarily manufactures specialised machinery and automated production lines for different mobility industries, with a focus on the automotive industry. Customers use Aumann's products for the highly efficient, technologically advanced mass production of electric motors and coils. This involves highly specialised and, in some cases, unique winding technologies that are used to wind electric components with copper wire. State-of-the-art automation solutions for related processes are no less important. Major customers from the automotive and e-bike industries use Aumann technology to manufacture the latest generation of electric motors. Aumann's product range also includes speciality machinery and production lines for the manufacture of energy storage systems, as well as product-related services such as maintenance, repair and spare part supply.

Revenue in the E-mobility segment grew by 44.6% year-on-year in the first nine months to €40.3 million. The capacity challenges in the third quarter described above affected the E-mobility segment in particular. At €4.8 million, the segment's EBIT for the first nine months is therefore only slightly higher than after six months. The segment's EBIT margin thus fell to 12.0% in the nine-month period. In the e-mobility field especially, Aumann is in talks with leading car manufacturers and Tie-1s concerning production solutions with considerable order volumes. While no major orders were placed in the third quarter, the segment's incoming orders already amount to €51.1 million after nine months.

In the Classic segment, Aumann primarily manufactures specialised machinery and automated production lines for the automotive, consumer electronics, home appliances, aerospace and general industry. Aumann's solutions include, for example, systems for the production of drivetrain components that reduce carbon emissions of vehicles with combustion engines. Furthermore, Aumann offers highly automated production and assembly solutions for consumer electronics and home appliances as well as specific solutions for other sectors.

Revenue in the Classic segment has increased by 17.3% year-on-year in the first nine months to €100.0 million. One of the main reasons for the growth in the Classic segment is still the trend towards emission-reduction components in vehicles with combustion engines. But outside the automotive industry as well, the segment is benefiting from growth trends such as rising efficiency requirements for industrial engines and household appliances, or the growing drive for automation in the producti on of consumer electronics. Segment EBIT increased significantly year-on-year from €7.2 million in the previous year to €10.2 million in the first nine months of 2017. This corresponds to an EBIT margin of 10.2%. Order intake in the Classic segment amounted to €84.2 million.

Employees

The number of employees increased to 640 as at 30 September 2017, not including temporary employees or trainees. Headcount has risen by 18.1% compared to 30 September 2016.

Report on risks and opportunities

An extensive presentation of the company's risks and opportunities can be found in the prospectus (pp. 59ff.) which is available at www.aumann-ag.com. Furthermore, the report on the first quarter of 2017, which is also available on the website, contains a summary of the risks and opportunities for Aumann (p. 6). There have been no significant changes in these risks and opportunities since the publication of the securities prospectus and the report on the first quarter. Aumann's risk management system is appropriate for detecting risks at an early stage and taking immediate countermeasures.

Report on expected developments

With the third quarter having fallen short of expectations on the one hand, and the acquisition of USK on 18 October 2017 on the other, Aumann is forecasting total revenue for the year of more than €210 million and EBIT of more than €20 million.

IFRS consolidated statement of comprehensive income 1 Jan - 1 Jan -
(unaudited) 30 Sep 2017 30 Sep 2016
€ k € k
Revenue 140,329 113,132
Increase (+) / decrease (-) in finished goods
and work in progress 739 431
Operating performance 141,068 113,563
Other operating income 2,890 657
Total performance 143,958 114,220
Cost of raw materials and supplies -79,438 -60,551
Cost of purchased services -8,915 -6,717
Cost of materials -88,353 -67,268
Wages and salaries -25,233 -21,469
Social security and pension costs -7,669 -7,040
Staff costs -32,902 -28,509
Other operating expenses -6,382 -5,365
Earnings before interest, taxes, depreciation,
and amortisation (EBITDA) 16,321 13,078
Amortisation and depreciation expense -1,249 -1,157
Earnings before interest and taxes (EBIT) 15,072 11,921
Other interest and similar income 149 432
Interest and similar expenses -605 -625
Net finance costs -456 -193
Earnings before taxes (EBT) 14,616 11,728
Income tax expense -4,262 -3,593
Other taxes -131 -60
Profit or loss for the period 10,223 8,075
Non-controlling interests 0 -615
Consolidated net profit 10,223 7,460
Earnings per share (in €) 0.73

IFRS consolidated interim financial statements 2017

IFRS consolidated statement of comprehensive income 1 Jan - 1 Jan -
(unaudited) 30 Sep 2017 30 Sep 2016
€ k € k
Consolidated net profit 10,223 7,460
Non-controlling interests 0 615
Profit or loss for the period 10,223 8,075
Items that may be subsequently reclassified
to profit and loss
Currency translation differences -66 -22
Available for sale financial assets 198 0
Other comprehensive income after taxes 132 -22
Comprehensive income for the reporting period 10,355 8,053
there of attributable to:
- Shareholders of the parent company 10,355 7,438
- Non-controlling interests 0 615
IFRS consolidated statement of comprehensive income 1 Jul - 1 Jul -
(unaudited) 30 Sep 2017 30 Sep 2016
€ k € k
Revenue 42,371 40,732
Increase (+) / decrease (-) in finished goods
and work in progress 8 128
Operating performance 42,379 40,860
Other operating income 522 116
Total performance 42,901 40,976
Cost of raw materials and supplies -23,827 -21,893
Cost of purchased services -2,552 -3,217
Cost of materials -26,379 -25,110
Wages and salaries -8,470 -7,267
Social security and pension costs -2,553 -2,419
Staff costs -11,023 -9,686
Other operating expenses -2,271 -1,689
Earnings before interest, taxes, depreciation,
and amortisation (EBITDA) 3,228 4,491
Amortisation and depreciation expense -462 -390
Earnings before interest and taxes (EBIT) 2,766 4,101
Other interest and similar income 25 66
Interest and similar expenses -154 -233
Net finance costs -129 -167
Earnings before taxes (EBT) 2,637 3,934
Income tax expense -811 -1,197
Other taxes -95 -24
Profit or loss for the period 1,731 2,713
Non-controlling interests 0 -295
Consolidated net profit 1,731 2,418
Earnings per share (in €) 0.12
Statement of financial position 30 Sep 2017 31 Dec 2016
Assets (IFRS) unaudited audited
€ k € k
Non-current assets
Concessions, industrial property rights and similar rights 3,052 840
Goodwill 10,057 10,057
Intangible assets 13,109 10,897
Land and buildings
including buildings on third-party land 14,140 11,868
Technical equipment and machinery 1,030 1,179
Other equipment, operating and office equipment 1,552 1,444
Advance payments and assets under development 1,933 947
Property, plant and equipment 18,655 15,438
Investment securities 2,613 0
Financial assets 2,613 0
Deferred tax assets 4,613 380
38,990 26,715
Current assets
Raw materials and supplies 1,942 1,414
Work in progress 844 34
Finished goods 455 454
Advance payments 2,995 2,137
Inventories 6,236 4,039
Trade receivables 13,685 13,969
Receivables from construction contracts 72,285 39,660
Other current assets 1,567 1,785
Trade receivables
and other current assets 87,537 55,414
Securities 4,688 7,663
Available-for-sale financial assets 4,688 7,663
Cash in hand 10 6
Bank balances 58,568 38,177
Cash in hand, bank balances 58,578 38,183
157,039 105,299
Statement of financial position 30 Sep 2017 31 Dec 2016
Equity and liabilities (IFRS) unaudited audited
€ k € k
Equity
Issued capital 14,000 12,500
Capital reserve 54,876 4,188
Retained earnings 30,604 24,749
99,480 41,437
Non-current liabilities
Liabilities to banks 21,475 16,666
Other interest bearing liabilities 28 0
Other liabilities 0 66
Pension provisions 18,515 18,514
Other provisions 1,142 1,235
Deferred tax liabilities 3,333 1,213
44,493 37,694
Current liabilities
Liabilities to banks 1,808 2,717
Advance payments received 12,514 12,157
Trade payables 8,880 11,475
Other liabilities 4,560 3,112
Provisions with the nature of a liability 7,087 6,780
Tax provisions 430 991
Other provisions 16,777 15,651
52,056 52,883
Total equity and liabilities 196,029 132,014
Consolidated statement of cash flows 1 Jan - 1 Jan -
(unaudited) 30 Sep 2017 30 Sep 2016
€ k € k
1. Cash flow from operating activities
Earnings before interest and taxes (EBIT) 15,072 11,921
Adjustments for non-cash transactions
Write-downs on non-current assets 1,249 1,158
Increase (+) /decrease (-) in provisions -565 201
Losses (+) / Gains (-) for disposal of assets -155 0
529 1,359
Change in working capital:
Increase (-) / decrease (+) in inventories, trade receivables
and other assets -33,720 -10,176
Decrease (-) / increase (+) in trade payables
and other liabilities 653 631
-33,067 -9,545
Income taxes paid -2,982 -2,707
Interest received 149 432
-2,833 -2,275
Cash flow from operating activities -20,299 1,461
2. Cash flow from investing activities
Investments (-) / divestments (+) intangible assets -2,211 252
Investments (-) / divestments (+) property, plant and equipment -4,312 -1,787
Investments (-) / divestments (+) of available-for-sale financial
assets and securities 561 713
Cash flow from investing activities -5,962 -822
3. Cash flow from financing activities
Proceeds from equity transfers 63,000 0
Disbursements for equity transfers -15,026 0
Profit distribution to shareholders -4,500 -2,500
Proceeds from borrowing financial loans 5,729 9,117
Repayments of financial loans -1,878 -2,646
Interest payments -604 -625
Cash flow from financing activities 46,721 3,346
Cash and cash equivalents at end of period
Change in cash and cash equivalents
(Subtotal 1-3) 20,461 3,984
Effects of changes in foreign exchange rates (non-cash) -66 -22
Cash and cash equivalents at start of reporting period 38,183 12,598
Cash and cash equivalents at end of period 58,578 16,560
Composition of cash and cash equivalents
Cash in hand 10 7
Bank balances 58,568 16,553
Reconciliation to liquidity reserve on 31 March 2017 2016
Cash and cash equivalents at end of period 58,578 16,560
Securities
Liquidity reserve on 31 March
7,301
65,879
18,471
35,031
Statement of changes in consolidated equity (unaudited)
Retained earnings
Issued
capital
Capital
reserve
Legal
reserve
Currency
translation
difference
Available
for sale
financial
assets
Pension re
serve
Generated
consolidated
equity
Share of
shareholders
of Aumann AG
Non
control
ling
interests
Consolidated
equity
€ k € k € k € k € k € k € k € k € k € k
1 Jan 2016 25 8,500 0 92 119 -1,427 24,978 32,287 1,895 34,182
Payed dividend 0 0 0 0 0 0 -4,500 -4,500 0 -4,500
Subtotal 25 8,500 0 92 119 -1,427 20,478 27,787 1,895 29,682
Amounts recognised in other comprehen
sive income
0 0 0 0 -31 -990 0 -1,021 0 -1,021
Currency translation difference 0 0 0 -15 0 0 0 -15 0 -15
Consolidated net profit 0 0 0 0 0 0 12,791 12,791 0 12,791
Total comprehensive income 0 0 0 -15 -31 -990 12,791 11,755 0 11,755
Capital increase from company ressources 11,663 -8,500 0 0 0 0 -3,163 0 0 0
Non-cash contribution 812 4,188 0 0 0 0 -3,105 1,895 -1,895 0
31 Dec 2016 12,500 4,188 0 77 88 -2,417 27,001 41,437 0 41,437
Payed dividend 0 0 0 0 0 0 -4,500 -4,500 0 -4,500
Subtotal 12,500 4,188 0 77 88 -2,417 22,501 36,937 0 36,937
Amounts recognised in other comprehen
sive income
0 0 0 0 198 0 0 198 0 198
Currency translation difference 0 0 0 -66 0 0 0 -66 0 -66
Consolidated net profit 0 0 0 0 0 0 10,223 10,223 0 10,223
Total comprehensive income 0 0 0 -66 198 0 10,223 10,355 0 10,355
Capital increase 1,500 50,688 0 0 0 0 0 52,188 0 52,188
30 Sep 2017 14,000 54,876 0 11 286 -2,417 32,724 99,480 0 99,480

Notes to the interim consolidated financial statements

Accounting

The interim financial report of the Aumann Group for the period from 1 January 2017 to 30 September 2017 was prepared on the basis of the International Financial Reporting Standards (IFRS) published by the International Accounting Standards Board (IASB) as adopted in the EU. It was prepared in accordance with IAS 34.

Accounting policies

The accounting policies adopted are the same as those applied in preparing the consolidated financial statements as at 31 December 2016. The preparation of the financial statements is influenced by accounting policies and assumptions and estimates affecting the amount and reporting of recognised assets, liabilities, contingent liabilities and income and expense items. Matters relating to revenue are deferred intra-year.

Segment reporting

The management of the Aumann Group classifies the segments as reported in the interim Group management report.

1 Jan - 30 Sep 2017 Classic E-mobility Reconcilation Group
(unaudited)
€ k € k € k € k
Order backlog 87,126 40,032 0 127,158
Order intake 84,155 51,141 0 135,296
Revenue from third parties 100,020 40,309 0 140,329
EBITDA 10,991 5,320 9 16,320
Amortisation and depreciation -746 -502 0 -1,248
EBIT 10,246 4,817 9 15,072
Financial result -457 -147 148 -456
EBT 9,789 4,670 157 14,616
EBIT-Margin 10.2% 12.0% 10.6%
Trade receivables and
Receivables from construction contracts 66,509 19,461 0 85,970
Advance payments 7,931 4,583 0 12,514
1 Jan - 30 Sep 2016 Classic E-mobility Reconcilation Group
(unaudited)
€ k € k € k € k
Order backlog 92,073 37,145 0 129,218
Order intake 101,706 43,813 0 145,519
Revenue from third parties 85,248 27,884 0 113,132
EBITDA 7,996 5,241 -159 13,078
Amortisation and depreciation -794 -363 0 -1,157
EBIT 7,202 4,878 -159 11,921
Financial result -501 -123 431 -193
EBT 6,701 4,755 272 11,728
EBIT-Margin 8.4% 17.5% 10.4%
Trade receivables and
Receivables from construction contracts 41,859 10,309 0 52,168

Changes in contingent liabilities

There were no changes in contingent liabilities as against 31 December 2016.

Related party transactions

Business transactions between fully consolidated Group companies and companies of MBB Group are conducted at arm's-length conditions.

Events after the end of the reporting period

On 18 October 2017, Aumann AG acquired 100% of the shares in USK Karl Utz Sondermaschinen GmbH.

Review

The condensed interim consolidated financial statements as at 30 September 2017 and the interim Group management report were neither audited in accordance with section 317 of the German Commercial Code (HGB) nor reviewed by an auditor.

Responsibility statement

To the best of our knowledge, and in accordance with the applicable reporting principles for interim financial reporting, the consolidated interim financial statements give a true and fair view of the net assets, financial position and results of operations of the Group, and the interim management report of the Group includes a fair review of the development and performance of the business and the position of the Group, together with a description of the principal opportunities and risks associated with the expected development of the Group for the remaining months of the financial year.

Beelen, 6 November 2017

Rolf Beckhoff Ludger Martinschledde Sebastian Roll Chief Executive Officer Chief Executive Officer Chief Financial Officer

Financial calendar

End of financial year 31 December 2017

Conferences

Deutsches Eigenkapitalforum

Frankfurt am Main, Germany 27 - 29 November 2017

Goldman Sachs Global Autos Conference

London, UK 30 November 2017

Berenberg European Conference

Pennyhill, UK 6 December 2017

Contact

Aumann AG Dieselstrasse 6 48361 Beelen Germany

Phone +49 (0)2586 888 7800 www.aumann-ag.com [email protected]

Legal notice

Aumann AG Dieselstrasse 6 48361 Beelen Germany

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